Banking & Fintech

Swiss asset manager swallowed

This content was published on May 24, 2002 Man Group will double its assets under management to almost $20 billion (SFr31 billion) through the purchase of RMF Investment Group paying $833 million in cash and stock for the Swiss company. “It is an extremely low-priced acquisition for what is an extremely fast growing business,” said Man’s Chief Executive Stanley Fink. The purchase lifts…

Cabinet unveils plan to bring down health costs

This content was published on May 23, 2002 At the end of their meeting at the converted Ittingen convent in canton Thurgau, ministers decided on a three-stage reform of the health insurance system, the interior minister, Ruth Dreifuss, said. Dreifuss said the cabinet had concluded that the current health insurance law was basically good, but that factors such as advances in medicine and…

Profits down at Holcim

This content was published on May 23, 2002 The world’s second largest cement group cited a production problem at its new Portland plant in the United States and the economic crisis in Argentina as the main reasons for its disappointing figures. Sales were flat at SFr2.8 billion ($1.78 billion), with revenue increases offset by currency losses, said the company in its first-ever quarterly…

Cabinet debates rising health insurance costs

This content was published on May 23, 2002 For many years, health premiums have risen by considerably more than the rate of inflation, an average of more than six per cent annually since 1996, according to federal statistics. In 2002 alone, mandatory basic coverage was hiked by an average of nearly ten per cent compared with the previous year. Health insurers are already…

Marco Zappa Quartet: Quanti Amori (Live)

This content was published on May 23, 2002

Tough first quarter for machinery sector

This content was published on May 22, 2002 The industry, which makes up Switzerland’s largest export sector, is blaming the results on the strong Swiss franc and the global economic downturn. The industry’s umbrella association, Swissmem, said the mechanical and electrical engineering (MEM) sector saw foreign orders drop by 17.2 per cent while domestic orders fell more than twice that by 34 per…

Government to share cost of rectifying GM error

This content was published on May 22, 2002 Last year, the federal testing laboratory at Posieux in canton Fribourg wrongly attested that 1,000 tons of fodder were free from genetically-modified soya. The fodder was later used to feed animals in farms from which the Migros and Coop stores bought meat and eggs for their organic labels. Once the lab mistake was uncovered, both…

Léman Capital buys to build décor firm

This content was published on May 21, 2002 They are Ever-Plast, a Swiss vendor of closet organizers, tie racks, and bathroom fixtures, and Becker & Hach, a German family-run picture frame-making firm, whose products include already-made frames to custom and high-end frames for art galleries. It plans to combine the two with existing portfolio firm, Gruppe Peyer, a designer and distributor of textiles,…

Business digest

This content was published on May 21, 2002 The increase is due mainly to higher sales in its wood products division. Profits increased by 163 per cent to almost SFr2.38 ($1.5 million). The company, active in the sustainable use of trees in Latin America, increased the amount of forest managed in Brazil from 80,000 hectares to 167,000 hectares during the period. Precious Woods…

Biotechnology investors want drugs

This content was published on May 21, 2002 The most popular kind of investment in this market is a so-called integrated biotechnology company, one that owns its own drug discovery platform, as well as being ready, willing, and able to discover new drugs. It is not enough that a company develop a unique way to analyze and research the characteristics and nature of…

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Banking & Fintech

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Swiss asset manager swallowed

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Cabinet unveils plan to bring down health costs

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Profits down at Holcim

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Cabinet debates rising health insurance costs

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Marco Zappa Quartet: Quanti Amori (Live)

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Tough first quarter for machinery sector

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Government to share cost of rectifying GM error

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Léman Capital buys to build décor firm

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Business digest

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Biotechnology investors want drugs

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